August 29th, 2008
How Do I Determine The Replacement Value for My Belongings?
When you take out a renter's insurance earthquake policy, you will be asked to place a value on all of the personal items you wish to insure. In order to arrive at a fair market value for your personal belongings, you need to take a thorough and detailed inventory of your thing. Some of the items you should inventory are; cameras and camera equipment, CD’s, DVD’s, VCR’s, TV’s and stereos. All electronics devices, and computers, all major appliances, musical instruments, furniture, glassware and china, books, clothing, and jewelry should be inventoried. Collectibles, such as comic books, trading cards, stamps, coins and artwork should also be counted. The best way to account for your belongings is to take pictures or video tape your inventory as well as writing everything down. Keep your list in a safe secure place where you will have easy and quick access to it in case of an emergency evacuation of your home.